The New York Times revealed that US President Donald Trump pardoned billionaire Julio Herrera Velutini, accused of bribery and campaign finance violations. The pardon followed significant financial dealings involving Herrera's family and Trump's former attorney, Alina Habba, who reportedly received over $50 million in compensation tied to the arrangement.
AN EXCLUSIVE STORY BY THE NEW YORK TIMES (NYT), dated October 20, 2026, has unravelled a shocking string of events, revealing US President Donald Trump’s pardon of Italian-Venezuelan billionaire Julio Herrera Velutini. He was accused of illegally financing the election campaign of Wanda Vázquez Garced, the former governor of Puerto Rico. The NYT report has named many figures, including Trump’s former personal attorney, Alina Habba, who reportedly received at least $50 million.
A thorough investigation into the Herrera family’s financial dealings has led to the discovery that the arrangement with Habba took place while Herrera was pleading for clemency from the US president. Trump pardoned Herrera on January 15, 2026, after he was charged with bribery. The billionaire businessman’s daughter, Isabella Herrera, according to the newspaper, also played a crucial role in securing Julio Herrera Velutini’s release from the white-collar charges against him.
Isabella reportedly donated $3.5 million to a Political Action Committee (PAC) linked to the President of the United States (POTUS). Their alleged plan moved forward when Isabella Herrera established Concord Partners, a company founded in October 2025, where Alina Habba would serve as general counsel.
According to the NYT report, the Herrera family offered Habba $10 million a year, along with other bonuses, for the next four years. Citing interviews and documents, the report stated, “In total, including bonuses, she was guaranteed more than $50 million over four years.”
Julio Herrera Velutini is a wealthy banker and the founder of Britannia Financial Group. The controversy began in August 2022, when Herrera allegedly funded the 2020 re-election campaign of Wanda Vázquez Garced in exchange for a favour. According to reports, Herrera sought the removal of a regulator who was investigating his bank.
He was later charged with conspiracy, federal programme bribery, and wire fraud. Herrera, Vázquez, and a former FBI agent had pleaded not guilty. During the case, Herrera's lawyer and former Florida solicitor general Christopher Kise reportedly assisted in negotiating an arrangement with the US Justice Department.
Kise had also previously worked for Trump as a member of his legal team. The NYT report claimed that Kise had negotiated a deal under which the Venezuelan billionaire pleaded guilty to campaign finance charges. Shortly afterwards, Vázquez and the former FBI agent also followed the same path, pleading guilty to a single misdemeanour charge.
The donations made by Isabella Herrera and the involvement of Trump’s former adviser, Habba, have further intensified scrutiny over a whopping deal worth millions that led to the pardon of Julio Herrera Velutini. Despite the criticism, Habba has denied any involvement on her part in securing Herrera’s controversial pardon.
(Edited by Harsh Pandey)
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